Nightstar Raises $45 Million to Fund Development of Gene Therapies for Blinding Retinal Diseases
NightstaRx announced the completion of a $45 million Series C financing transaction, the proceeds of which will be used for the upcoming phase 3 trial for Nightstar’s lead product candidate, NSR-REP1, for choroideremia, an ongoing phase 1/2 clinical trial of Nightstar’s product candidate NSR-RPGR for X-linked retinitis pigmentosa, and a planned phase 1/2 clinical trial of a gene therapy product candidate for an inherited form of macular dystrophy.
“Nightstar combines industry-leading gene therapy, ophthalmology expertise and clinical experience to advance a deep pipeline of therapies for devastating inherited retinal diseases,” David Fellows, chief executive officer of Nightstar, said in a company news release. “We are pleased to welcome these investors in the financing, which will provide the capital for us to move our pipeline forward so that we may help patients with these disorders maintain their vision.”
New investors Wellington Management Company and Redmile Group joined existing investors Syncona and New Enterprise Associates (NEA) in the round.
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